SEC can collect unpaid ICO promotion fines from Steven Seagal, says judge
August 28, 2021, 11:04AM EDT
1 min read
Actor Steven Seagal owes the U.S. Securities and Exchange Commission unpaid fines stemming from a settlement related to the promotion of an initial coin offering -- and a U.S. judge has empowered the agency to seek collection.
According to Bloomberg, Seagal owes more than $200,000. As previously reported, Seagal settled with the agency after being accused of not disclosing payments related to his endorsement of the Bitcoiin ICO. As part of the deal, he was ordered to pay more than $300,000.
Now, the SEC "can go through Seagal’s business manager to try and collect," per Bloomberg.
The SEC has gone after other promoters involved in Bitcoiin, which was accused of being a Ponzi scheme. John DeMarr pled to one count of conspiracy to commit securities fraud in July and faces sentencing in January.